Taiwan Touch Screen Maker to Leave JDI Support Consortium

Economy

Tokyo, June 17 (Jiji Press)--Japan Display Inc. <6740> said Monday that Taiwanese touch screen maker TPK Holding Co. will drop out of the China-Taiwan consortium formed to fund the ailing Japanese display panel maker.

The Suwa Consortium, launched by TPK as well as Chinese and Taiwanese investment funds, will maintain its plan of investing in the Japanese maker of small and midsize liquid crystal display panels by welcoming Oasis Management Co., a Hong Kong investment fund to the consortium in TPK's stead.

Oasis Management, known as an activist shareholder, will make an investment of 150 million dollars, or about 16 billion yen.

Additionally, Harvest Tech Investment Management Co., a Chinese investment fund and a significant member of the consortium, will increase the amount of its investment by roughly 10 million dollars to 200 million dollars, or almost 22 billion yen. The company is also expected to pitch in more funds as needed.

As a result, there will be no change in JDI's plan to raise up to 80 billion yen from the consortium, the company said.

[Copyright The Jiji Press, Ltd.]

Jiji Press